Changpeng ‘CZ’ Zhao, the CEO of Binance, expressed his relief over the resolution of the prolonged dispute with the United States Securities and Exchange Commission (SEC). The SEC’s ongoing scrutiny had caused uncertainty for the company. However, a “Proposed Stipulation and Consent Order” was reached between Binance, Binance.US, and the US SEC, which was approved by Judge Amy Berman Jackson of the US District Court for the District of Columbia. The agreement mandates Binance to “repatriate” all fiat currency and cryptocurrency assets associated with Binance.US by a specified date. Moreover, Binance Global officials cannot access the private keys of all wallets, encompassing both cold and hot wallets. Despite regulatory challenges faced by Binance, CZ emphasized the company’s unwavering dedication to ongoing operations, including implementing strong security measures to protect user funds across all associated platforms. Additionally, Binance’s BNB Chain is exploring the possibilities of developing and launching a Layer-2 blockchain solution.